Posts Tagged ‘unexpectedly’

“The unemployment rate dipped, but mostly because more Americans stopped looking for work.”

Friday, April 6th, 2012

In today’s WaPo,
US hiring slows in March as employers add just 120K jobs, unemployment rate dips to 8.2 pct.

The unemployment rate fell to 8.2 percent, the lowest since January 2009. The rate dropped because fewer people searched for jobs. The official unemployment tally only includes those seeking work.

Well, at least they didn’t say it was “unexpectedly.”

UPDATE
The big March jobs miss — and why the real unemployment rate sure ain’t 8.2% (h/t Instapundit)

Click on graph for full size.

For the 1st time since February 1945, the government has reported a net job change of zero

Friday, September 2nd, 2011

as the U.S. Economy Shows No Job Growth. Worse yet,

Data for the previous two months were revised down by a total 58,000 to show payroll increases of 85,000 jobs in July and only 20,000 in June, the government report showed.

The unemployment rate, which is obtained from a separate household survey, was unchanged at 9.1% last month. About 14 million Americans who would like to work can’t get a job.

And the average private-sector workweek fell to 34.2 hours from 34.3 hours, a sign of a greater slowdown in activity than economists had expected.

The results were worse than expected.

We’ve gone from “unexpectedly” to “worse-than-unexpectedly,” then?

27277

Unemployment rate “unexpectedly” climbs again

Friday, July 8th, 2011

There’s that word again,
U.S. Payrolls Rise 18,000; Jobless Rate Climbs to 9.2% (h/t Instapundit)

U.S. employers added 18,000 workers in June, the fewest in nine months, and the unemployment rate unexpectedly climbed, indicating a struggling labor market.

With the lowest labor force participation rate in 25 years (h/t Doug Ross),

Meanwhile, U.S. debt crisis might be on fast track.

Worried yet?

26792

Unexpectedly! Jobless claims continue to rise for 8 straight weeks

Thursday, June 9th, 2011

Initial Jobless Claims in U.S. Unexpectedly Increased Last Week

It was the ninth consecutive week that claims were above 400,000.

Ed Morrissey:

This puts the last two weeks at more or less the same level as the weeks before. The 420-430K level appears to be the “new normal” for 2011, a little below the 440-460K level of 2010 but above the 380K range we saw in the first quarter of this year.

Unexpectedly? Not so.

26482

Unexpectedly! Sales of U.S. New Homes Dropped to Record Low in July

Wednesday, August 25th, 2010

Here comes that “recovery summer” word again:
Sales of U.S. New Homes Dropped to Record Low in July

Sales of U.S. new homes unexpectedly dropped in July to the lowest level on record, signaling that even with cheaper prices and reduced borrowing costs the housing market is retreating.

Purchases fell 12 percent from June to an annual pace of 276,000, the weakest since data began in 1963, figures from the Commerce Department showed today in Washington. The median price of $204,000 was the lowest since late 2003.

A lack of jobs is hurting Americans’ confidence, leading to a plunge in home demand that threatens to undermine the one-year- old economic recovery. Builders are also competing with mounting foreclosures that are forcing down property values.

I don’t know what it will take for the news agencies to realize that The US economy is in a 1930s-style Depression, but at least CNBC ran an article on that:

Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.

But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.

Rosenberg calls current economic conditions “a depression, and not just some garden-variety recession,” and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered “euphoric response.”

“Such is human nature and nobody can be blamed for trying to be optimistic; however, in the money management business, we have a fiduciary responsibility to be as realistic as possible about the outlook for the economy and the market at all times,” he said.

The 1929-33 recession saw six quarterly bounces in GDP with an average gain of 8 percent, sending the stock market to a 50 percent rally in early 1930 as investors thought the worst had passed.

“False premise,” Rosenberg said. “And guess what? We may well be reliving history here. If you’re keeping score, we have recorded four quarterly advances in real GDP, and the average is only 3%.”

Ed Driscoll asks, What’s the Second Coming of FDR Without a Depression?

Ed points out,

Ironically, that’s not exactly the shock it’s supposed to be.

Go read the rest of his post to understand why.

22618

Unexpectedly! Weekly Jobless Claims Rise

Thursday, August 19th, 2010

Here is that word again, “unexpectedly”!
Weekly Jobless Claims Post Surprise Jump, Hit 500,000

New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said on Thursday.

Ed Morrissey:

CNBC’s headline writer also got gobsmacked, writing this header for the Reuters story: “Weekly Jobless Claims Post Surprise Jump, Hit 500,000.” Maybe Reuters should seriously look at hiring better analysts.

Recovery summer?

More like the recovery summer’s bust. Larry Kudlow has more on the Economic Lessons of the Summer Swoon: disinflation, dropping bonds, falling stocks, and this,

And let me repeat my own mantra: The Fed can produce new money, but it cannot produce new jobs. Fiscal policy — and its threat of overtaxing, over-regulating, and overspending — is what’s ailing the economy. And that threat is reverberating through stock and bond markets. (The stock market, by the way, is still about 11 percent below its late-April peak.)

Small wonder that only 41 percent of Americans approve of Obama’s job performance

“Unexpectedly”!, at that.

Oh, look,
Bloomberg’s also into “unexpectedly”!

UPDATE
Sing it, Don! The Unexpectedly Song

22413

“Unexpectedly”! U.S. Trade Deficit Widens

Wednesday, August 11th, 2010

The economy keeps going “unexpectedly” to hell on a handbasket,
U.S. Trade Deficit Widens

The U.S. trade deficit widened unexpectedly to a record 21-month high in June, as imports from its largest trading partners ballooned.

The shortfall in international trade of goods and services surged 19% to $49.90 billion, the Commerce Department said Wednesday. The deficit in May was revised down to $41.98 billion from an initial estimate of $42.27 billion.

Economists surveyed by Dow Jones Newswires had expected the deficit to expand to $42.7 billion in June.

U.S. exports contracted 1.3% to $150.45 billion, from $152.44 billion in May. Imports increased at a faster rate, expanding 3.1% to $200.35 billion from $194.42 billion.

The WSJ’s sidebar comment states

The scariest number is the drop in exports. The nascent recovery in manufacturing was heavily predicated on exports sales. Say goodbye to that hope. Now it will be inventory building and government spending.

And may I remind you, government spending is simply the act of government bureaucracies taking money out of private hands and redistributing it – or worse, printing more paper.

And, “unexpectedly“! Jobless Claims in U.S. Unexpectedly Climb to Three-Month High

I am shocked, shocked!

Is Captain Louis Renault writing the news now?

And,
Today in unexpectedly

UPDATE
Somehow I Was Too Optimistic On The Economy
Summer of Recovery: ‘The IMF has… pronounced the U.S. bankrupt’

22232